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Bitcoin price discussion and analysis

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'No one really knows what is going to happen to the prices of Bitcoin and other cryptos. Most of the so called top tipsters and amongst them those who got in under $100 have gone to ground. Many forecast over $200,000 and some $500,000+.'

There has been a sudden move to just short of $22,000 in Bitcoin late Friday. Rumours that Whales are buying back in. How all this will effect Bitcoin if Russia declares war on Western Countries supporting Ukraine actually in Ukraine is another matter that may not be that far away.
 
noirua said:
'No one really knows what is going to happen to the prices of Bitcoin and other cryptos. Most of the so called top tipsters and amongst them those who got in under $100 have gone to ground. Many forecast over $200,000 and some $500,000+.'

There has been a sudden move to just short of $22,000 in Bitcoin late Friday. Rumours that Whales are buying back in. How all this will effect Bitcoin if Russia declares war on Western Countries supporting Ukraine actually in Ukraine is another matter that may not be that far away.
Click to expand...
Bitcoin & major crypto's tend to follow US market's - when equities are bullish so is crypto & vice-versa
 
Bitcoin was down 9.7% to $20,220 a minute ago. The DOW was down 4% and AUD 2.4% against the USD. Gold down 1.3% in USD but up 1.1% in AUD.
 
The average Bitcoin bear market length is said to be 289 days. The present bear market should end sometime between October 2022 until March 2023. The lowest price could be between $10,000 and $11,000 though more likely between $14,000 and $16,000.
www.benzinga.com

How Long will a Bitcoin Bear Market Last?

Crypto bear market bottom might be close; learn how you can outperform during these tough times.
www.benzinga.com www.benzinga.com

2012 Bitcoin Bear Market​

The first major bear market of Bitcoin was in 2012, a year that was marked by an onslaught of hacks and negative events that contributed to the uncertainty around Bitcoin. This bear market lasted 185 days, with a peak price of $7.08 and a bear market low of $4.22.

2014 Crypto Bear Market​

Subsequently, 2013 was an extremely significant year for Bitcoin and crypto in general. In October 2013, Silk Road, an online black market, was shut down by the FBI. However, Silk Road’s significance in the history of Bitcoin was that it represented the crypto asset’s first form of widespread user adoption. This bear market lasted 415 days, with a peak price of $1,149.19 and a bear market low of $197.24.

2018 Crypto Bear Market​

The 2018 cryptocurrency bear market followed what many refer to as the bursting of the cryptocurrency bubble. After an unprecedented boom in 2017, the price of Bitcoin fell by over 65% from January 6 to February 6. The cryptocurrency market entered a long winter, picking back up in early 2019.
 
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Interesting to see the relatively non-volatile Bitcoin trading continue, even after the FOMC sparked huge swings in the equity market overnight.

BTC has followed a pretty flat sideways channel for over two months now, and is currently holding above $20K despite USD's sharp reversal higher during Wednesday's session. Is this a sign of a longer-term accumulation zone, or just a lack of interest in the cryptos given the current macro environment?
 
The Fin Review in the persona of Tony Boyd was extremely bullish on the idea of the BTC ETF back in early 2021.
From Fin Review
Bitcoin believers and long-standing sceptics seem to agree that 2021 will be the year when several stock exchanges in leading financial centres drop their opposition to the listing of a Bitcoin exchange-traded fund (ETF).

A bitcoin ETF would be transformative for the asset class because it would bring it into the mainstream distribution networks run by brokers and financial planners. Also, a bitcoin ETF would have to abide by certain periodic and standardised pricing and valuation rules.

In This AFR article he suggested the very first ETF would probably pull in in excess of AUD1billion.

Well now it seems that the first one to market, the COSMOS backed BTC, Etherium and bitcoin miner ETFS have been pulled from the market after less than stellar interest from investors.
From The Evil Murdoch emire
Well, that didn’t take long. Despite the extravagant fuss over its bitcoin and ethereum ETFs – launched earlier this year – Cosmos Asset Management said on Wednesday it was delisting both products, in a move that seems an obvious reaction to a lack of investor interest.
A third fund, focused on bitcoin miners, would also be withdrawn, the company said.
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According to its website, the bitcoin ETF held roughly $890,000 in assets under management as of October 31. Its ethereum product attracted $270,000 while the digital mining ETF, launched in September 2021, had a volume of $700,000.
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Most of the article is puerile crap bagging Boyd , from a rival newspaper, for being a big supporter.
However, it did correctly call out Boyd for not disclosing early on that he held shares in Mawson Infrastructure, which until recently owned Cosmos and remains its largest shareholder.
Transparency is everything, even if your holding may be small.
Mick
 
mullokintyre said:
A bitcoin ETF would be transformative for the asset class because it would bring it into the mainstream distribution networks run by brokers and financial planners. Also, a bitcoin ETF would have to abide by certain periodic and standardised pricing and valuation rules.
Click to expand...

Of course the Grayscale Bitcoin Trust can be used as a proxy for holding BTC for a 2% annual fee and trading at a deep discount to NAV for some time now...

"One of the first securities solely invested in and deriving value from the price of BTC.
Grayscale® Bitcoin Trust is solely and passively invested in BTC, enabling investors to gain exposure to BTC in the form of a security while avoiding the challenges of buying, storing, and safekeeping BTC, directly."

For BTC speculators, why wait for an ETF when GBTC is trading at such a discount to NAV.
 
noirua said:
Each lower target has been met so far - 8p is the most recent. The next is 3p - 3.5p and for now, looks too low to believe. Maybe 3p - 3.5p would signal capitulation. The forecasters of $10,000 for Bitcoin have not gone away.​
Today Bitcoin hit $17,500 before bouncing back. Trading in the $18,000 to $19,000 range after the big fall.
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BTC is a Casino and the price will vary as do winnings at Roulette, but the Crypto and Hedge Fund manipulators will algorithm their way, long and short to profit.

There are better markets out there for the average punter.

gg
 
Trader X said:
So FTX almost collapsed and needed rival Binance to bail them out. How long before the entire crypto house of cards inevitably comes crashing down seems not far away now.
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New reports are suggesting that Binance has now exited from the FTX deal. Bitcoin is already down over 20% this week alone, and currently looks to be extending losses on this news.

The relatively flat trading in the past few weeks may have been a signal that the crypto market was gearing up for a large move, and this news seems to have triggered it to the downside. All trading carries risk, but from a technical standpoint, it is hard to see where the next line of support may come in.
 
Trader X said:
Hard to believe that a power couple (now ex-couple) like the Brady bunch would go all-in on FTX, incredible financial folly.
cryptoslate.com

Tom Brady, Gisele Bündchen at risk of losing $650M investment in FTX

Tom Brady and Gisele Bündchen's $650 million FTX stake may see the two lose a major chunk of their net worth mid Binance buy-out.
cryptoslate.com cryptoslate.com
Click to expand...
Can't imagine TB or Giselle having the time to work out their own finances. All these American athletes have business managers who manage their finances. Very rarely do they do it themselves. They also both still earn $40+ million a year.

One of the articles I saw this week also said a number of Canadian government pensions were burnt as well. I've said here multiple times crypto is the biggest fraud/scam in human history. What on earth are massive pension/superannuation/public investment managers doing investing other peoples money in garbage like this?

I have met plenty of people who have invested in crypto but still to this day I have not met anyone I consider a financially literate who has invested money in crypto. Any funny enough just like junior explorers or horses, everyone I talk to claims to have made money on their crypto.
 

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